{"id":47374,"date":"2023-10-20T15:53:27","date_gmt":"2023-10-20T15:53:27","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/start-ups-tipped-to-cash-in-amid-second-hand-goods-boom-startupsmart\/"},"modified":"2023-10-20T15:53:27","modified_gmt":"2023-10-20T15:53:27","slug":"start-ups-tipped-to-cash-in-amid-second-hand-goods-boom-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/start-ups-tipped-to-cash-in-amid-second-hand-goods-boom-startupsmart\/","title":{"rendered":"Start-ups tipped to cash in amid second-hand goods boom – StartupSmart"},"content":{"rendered":"

New research suggests the resale value of unused goods in Australian households could equate to more than $40 billion, highlighting opportunities for start-ups in the growing second-hand market.<\/p>\n

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According to the research, conducted by classifieds website Gumtree, Australia\u2019s second-hand economy grew from $13 billion last year to almost $18 billion this year \u2013 a rise of almost 40%.<\/p>\n

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Over the last year, Gumtree.com reported its sales grew 143%. According to Gumtree spokesperson Nat Thomas, the most popular items sold are books, clothing and electronics.<\/p>\n

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The report estimates there are 23 unused items in each household across the country, while one in five homes have at least 40 items they don\u2019t use or want.<\/p>\n

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According to the report, the resale value of these unwanted and unused goods could equate to nearly $44 billion.<\/p>\n

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Thomas told AAP<\/i> the surge in the second-hand economy is \u201ca reaction to the tougher economic times we find ourselves in\u201d.<\/p>\n

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\u201cPeople are selling everything from property to cars to business services, fashion \u2013 anything you no longer have a need for,\u201d he said.<\/p>\n

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Marco Ferlaino, of award-winning start-up RemoveMe<\/a>, says the figures from Gumtree reaffirm the demand for his offering.<\/p>\n

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\u201cOur simple philosophy is what happens to all the unsold stuff on eBay? That\u2019s our market,\u201d Ferlaino told StartupSmart<\/i>.<\/p>\n

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\u201cEssentially, we\u2019re interested in the tens of millions of items every day that end with no bids.\u201d<\/p>\n

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Anyone who wants to get rid of unwanted goods can contact RemoveMe \u2013 described as \u201cFedEx in reverse\u201d \u2013 which takes the goods away and recycles them.<\/p>\n

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Ferlaino says his business is no different to any other internet start-up in that it provides a new approach to an old problem. But he insists he\u2019s not concerned about competitors.<\/p>\n

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\u201cFor us, we are working extremely hard creating a defensible advantage. 99.99% of everything we do is working on what our value proposition is,\u201d he says.<\/p>\n

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\u201cWe\u2019ve got our vision and [competitors] can only copy a certain snapshot of that.\u201d<\/p>\n

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Initially, RemoveMe will only operate in a handful of suburbs, Ferlaino says.<\/p>\n

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\u201c[This will enable us] to get feedback from the customer to see what they like, what they don\u2019t like\u2026 and then extend it to little bit of radio advertising I guess, which gives us a broader [scope],\u201d he says.<\/p>\n

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But rather than rejoice over consumers\u2019 cost-conscious behaviour, Ferlaino says he prefers to see strong retail figures.<\/p>\n

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\u201cWe want Harvey Norman and every major retailer in Australia to make trillions,\u201d he says.<\/p>\n

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\u201cBecause for every item that\u2019s bought or exchanged, someone has to make room for something that is no longer needed.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

New research suggests the resale value of unused goods in Australian households could equate to more than $40 billion, highlighting<\/p>\n","protected":false},"author":1,"featured_media":62704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47374"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=47374"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47374\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/62704"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=47374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=47374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=47374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}